2022 Real Estate Observations (Boston: ski resorts, big house, zip codes)

[robr2]

Originally Posted by BostonMike7

I think building a smaller home is not cost effective for builders these days. I'm not aware of any new builds in the 2000-3000 sf range.


I watched this house go up the last 3-4 months along my daily commute route. Nice house but at 4900 sf it's just huge. Already had a $200K price drop after 20 days on market. There's another new build next door that should be on the market soon that looks to be the same size.

https://www.redfin.com/MA/Lynnfield/.../home/11332826

Looks like the prior owner sold two properties there: 244 and 258 Main St. totaling 1.5 acres. He walked away with almost $800K for the two lots. I doubt either home on the lots had any historical importance. Simply being old doesn't make it special.

[robr2]

Originally Posted by newenglandgal123

Are there any builders out there who care more about preserving history while still being able to make a profit?

There are but it would cost a great deal more to restore that little house than it would ever worth.

[newenglandgal123]

Originally Posted by robr2

Looks like the prior owner sold two properties there: 244 and 258 Main St. totaling 1.5 acres. He walked away with almost $800K for the two lots. I doubt either home on the lots had any historical importance. Simply being old doesn't make it special.

Just looked at the bing map streetview and yes, this one was in rough shape. Also, I'm no architect but something looks architecturally off with the front windows like maybe the sizing of a few of them were modified post 1700. In any case, it's just my opinion that there are some old houses (if salvageable and still having most of their original features) that could be beautifully renovated while also preserving the historic look on the exterior. This also maintains the charm and feel of the city/neighborhood as well as preserves green space. I'd rather that versus having to look directly into the window of my new neighbor's behemoth home with odd roof lines and angles when previously I had a nice wooded/natural landscape view.

[BostonMike7]

Originally Posted by newenglandgal123

Just looked at the bing map streetview and yes, this one was in rough shape. Also, I'm no architect but something looks architecturally off with the front windows like maybe the sizing of a few of them were modified post 1700.

It had some "modern" 1970's or 1980's windows and doors (poorly) fabbed in. In fact, i'm pretty sure the guy just nailed new window glass onto the exterior of the existing original windows.

The house has no historical significance. There was no reason to save it. My displeasure for seeing it razed is simply because I am into antique homes, even if they are run down. But realistically, it was not worth renovating.

[id77]

Originally Posted by Beachcomber4

Wasn't $3M. At the time of purchase they needed more space (kids, family gatherings) and they could easily afford it. Their needs have changed. Their priorities changed. Elders died off. Holidays became smaller gatherings. They bought vacation homes (smaller). Lots of reasons. Not sure why vanity is the first thing that comes to mind. Most folks I know who can afford homes like this DGAF what anyone else thinks of them. They are just living their lives on their terms.

Vanity comes to mind because quite frequently the other excuses for why one needs a large home hold no actual weight. Nobody needs 4000+ sqft to host family on holidays, needs every single child to have a separate bedroom, or needs a separate home office for each working adult. These are all wants -- not necessities -- no matter how important they may seem to the owner.

Each person in the end should just own their choices and really shouldn't worry too much about what others think. Anyone who tries to justify the space with reasons like the above, however, fails both conditions as they apparently do care what others think and they aren't owning their excess consumption for what it is.

[msRB311]

Originally Posted by id77

Vanity comes to mind because quite frequently the other excuses for why one needs a large home hold no actual weight. Nobody needs 4000+ sqft to host family on holidays, needs every single child to have a separate bedroom, or needs a separate home office for each working adult. These are all wants -- not necessities -- no matter how important they may seem to the owner.

Each person in the end should just own their choices and really shouldn't worry too much about what others think. Anyone who tries to justify the space with reasons like the above, however, fails both conditions as they apparently do care what others think and they aren't owning their excess consumption for what it is.

I think people should think twice before having an enormous home built these days. Most of it comes down to wasting space, destroying wildlife around you, and sucking up more energy and electricity than necessary. These are things all Americans need to think about in the long run. Just because someone has millions of dollars to help further pollute the earth doesn't mean they should.

It's one thing to buy a 4k sq ft home that's already there, but building one these days is irresponsible. I get it though, people are selfish and only want what they want.

[Beachcomber4]

Originally Posted by id77

Vanity comes to mind because quite frequently the other excuses for why one needs a large home hold no actual weight. Nobody needs 4000+ sqft to host family on holidays, needs every single child to have a separate bedroom, or needs a separate home office for each working adult. These are all wants -- not necessities -- no matter how important they may seem to the owner.

Each person in the end should just own their choices and really shouldn't worry too much about what others think. Anyone who tries to justify the space with reasons like the above, however, fails both conditions as they apparently do care what others think and they aren't owning their excess consumption for what it is.

Family and family gatherings are vain reasons to buy a large home? We obviously have different ideas on vanity. That’s the best reason for a large home.

And excessive consumption. Oy. You sound like the people who are constantly berating the working man about consumption and conservation from their mansions, yachts and private jets?

[msRB311]

Originally Posted by Beachcomber4

Family and family gatherings are vain reasons to buy a large home? We obviously have different ideas on vanity. That’s the best reason for a large home.

And excessive consumption. Oy. You sound like the people who are constantly berating the working man about consumption and conservation from their mansions, yachts and private jets?

It's very possible to still have a nice home without building an estate.

I dont know if i'd say family and family gatherings are a vain reason to build a 5000 sq foot home but how big is the family and how often do the gatherings happen? If it's once a year at xmas I'm not sure I can see that one.

Again there are plenty of large homes here that are already built. It isn't sustainable to keep knocking down homes and forests to build more. What an ugly country this will be one day...hopefully I'll be dead by then if this is the way the world will continue. Climate change is everyone else's problem right?

[newenglandgal123]

Originally Posted by id77

Vanity comes to mind because quite frequently the other excuses for why one needs a large home hold no actual weight. Nobody needs 4000+ sqft to host family on holidays, needs every single child to have a separate bedroom, or needs a separate home office for each working adult. These are all wants -- not necessities -- no matter how important they may seem to the owner.

Each person in the end should just own their choices and really shouldn't worry too much about what others think. Anyone who tries to justify the space with reasons like the above, however, fails both conditions as they apparently do care what others think and they aren't owning their excess consumption for what it is.

Exactly and many of the sale pending houses I used as examples in my previous post were 6,000+ sq ft. I guess there are families who may have 6+ kids, but this is more the exception than the norm. Who in the world really needs that much space even if you are the family unit that hosts the holiday gatherings a few times a year. If you really have that large of a family, wouldn't it be more justifiable to rent out a restaurant or function hall a few times a year to host the gatherings?! Let's be honest with ourselves folks, if someone doesn't have a large family unit (having many children), it's just a wealth flaunt. One can still have a very nice home with high end everything and it doesn't need to be 6,000+ sq feet.

[id77]

Originally Posted by Beachcomber4

Family and family gatherings are vain reasons to buy a large home? We obviously have different ideas on vanity. That’s the best reason for a large home.

And excessive consumption. Oy. You sound like the people who are constantly berating the working man about consumption and conservation from their mansions, yachts and private jets?

I've attended family gatherings of ~20 people at homes less than 3,000 sqft, so unless one is hosting a convention there's no need for 4000+ sqft. Family gatherings are a reason people will pursue large homes, sure, but it's not a need. Nobody needs a 4000+ sqft home to hold down a job or avoid prison.

I respect the middle-class man who says he mortgaged himself up to his eyeballs because he wanted a big home to try to impress his friends, but not the middle-class man who says he mortgaged himself up to his eyeballs because he needed a larger home for family gatherings. The first man recognizes his excess and owned it; the second man is seeking validation that he made a good decision.